Permanent Account Number

Everything You Want to Know About Pan Card for NRI’S

Income Tax - According to the new, rule of SEBI ,any NRI not having PAN card cannot do the share trading by depository or broker....

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Guide to Aadhar-PAN Linking !!

Income Tax - After multiple extensions of due date for linking PAN and Aadhar, finally the due date coming up is 31st of December 2019 (extended further up-to 31st March 2020 vide Income Tax Notification dated 30.12.2019) The government in its last budget has made a law by inserting section 139AA in Income-tax Act, 1961 making it mandatory […]...

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Landlord’s PAN not needed to claim HRA if annual rent is below Rs 1 lakh

Income Tax - Landlord’s PAN not needed to claim HRA if annual rent is below Rs 1 lakh and f rent paid exceeds Rs.1 lakh per annum, it is mandatory for the employee to report PAN of the landlord to the employer. An employee who receives HRA can claim an exemption in respect of rental payments under section 10(13A) […]...

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5 Recent Important Income Tax Changes we must know

Income Tax - Union Finance Minister Nirmala Sitharaman in her maiden budget speech announced some income tax-related changes which will come into effect from September 1, 2019. Cash withdrawals exceeding INR 1 crore in aggregate in a year from finance institutions will attract TDS while in case of property transactions, the definition of immovable pro...

Read More

Updation In Pan Card Is A Must

Income Tax - The article attempts to revisit the SC latest verdict on address updation in PAN Card which is must without which the assessee cannot claim that he was not served with notice issued to him under the Income Tax Act. In PCIT Vs IVen Interactive Limited, the Supreme Court’s judgement dt. 18.10.2019 says that mere mentioning […]...

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PAN cards now printed with Enhanced Quick Response Code

Income Tax - ATTENTION PAN CARD APPLICANTS PAN cards are now being printed with Enhanced Quick Response (QR) Code. Features of new PAN Card design: 1. Enhanced QR Code will contain Photograph & Signature of PAN applicant apart from existing information i.e., PAN, Name, Father’s Name/Mother’s Name, Date of Birth/Incorporation/ Formation. The af...

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CBDT issues clarification on linking of PAN with Aadhaar

Income Tax - It has been reported in some sections of the media that those PANs which are not linked with Aadhaar number by 31.03.2019 may be invalidated. The matter has been considered by the Central Government and now the cut-off date for intimating the Aadhaar number and linking PAN with Aadhaar is 30.09.2019, unless specifically exempted....

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It is mandatory to link your PAN with Aadhaar?

Income Tax - Link your Aadhaar with PAN today to enjoy seamless Income Tax services online How to link your PAN with Aadhaar Through SMS facility Send SMS to 567678 or 56161 in following format: UIDPAN<SPACE><12 digit Aadhaar><Space><10 digit PAN> Example : SMS to 567678 or 56161: UIDPAN 111122223333 AAAPA9999Q Through a-filing...

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Link your PAN with your Bank Account- No Refund if A/c not linked

Income Tax - Link your PAN with your Bank Account… Get your refund directly, swiftly and securely in your bank account Income Tax Department will Issue only e-refunds from 01.03.2019 Refunds will be given only to bank accounts (savings/current/cash/OD) which are linked with PAN. To check if your bank account is linked with your PAN, login to e...

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Individuals can Now apply for PAN online with digital signature

Income Tax - With effect from September 6, 2015, facility for digital signature certificate (DSC) based PAN application has been enabled in New PAN Form 49A for Individuals. Guideline for DSC based Online Application for New PAN Card in Form 49AA (a) An applicant will fill Form 49AA online and submit the form. Non-citizens of India should only [&helli...

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Appellant PAN can’t be declared inoperative for Non-Linking with AADHAAR till SC verdict

Bandish Saurabh Soparkar Vs Union of India (Gujarat High Court) - Bandish Saurabh Soparkar Vs Union of India (Gujarat High Court) It is ordered that PAN of the applicant shall not be declared inoperative and the applicant would not be in default in any proceedings only for the reason that the permanent account number is not linked with Aadhaar or Aadhaar number is...

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AO justified in sending notice at address mentioned in PAN database

PCIT Vs. M/s I­-Ven Interactive Limited (Supreme Court) - Mere mentioning of the new address in the return of income without specifically intimating the Assessing Officer with respect to change of address and without getting the PAN database changed, is not enough and sufficient....

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Linkage of PAN with Aadhar is mandatory from AY 2019-20 : SC

Union Of India & Ors. Vs Shreya Sen & Anr. (Supreme Court of India) - Thereafter, this Court has decided the matter and upheld the vires of section 139AA of the Income Tax Act. In view thereof, linkage of PAN with Aadhar is mandatory....

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Mere allotment of PAN would not make allottee a Separate Entity

Sardar Vallabhbhai Patel Education Society Vs. ITO (Gujarat High Court) - Mere allotment of PAN under section 139A of the Act would not make the allottee necessarily a separate entity for the purpose of assessment of tax. The statute recognizes certain eventualities where quite outside the requirement of payment of tax and for filing return of income, the Assessing Office...

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Text of SC Judgment on Aadhaar Card Linkage With PAN

Binoy Viswam Vs Union Of India & Ors. (Supreme Court of India) - (i) We hold that the Parliament was fully competent to enact Section 139AA of the Act and its authority to make this law was not diluted by the orders of this Court. (ii) We do not find any conflict between the provisions of Aadhaar Act and Section 139AA of the Income Tax Act inasmuch as when interp...

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Due date for linking of PAN with Aadhaar extended to 31st March 2020

Notification No. 107/2019-Income Tax [S.O.4708(E)] - (30/12/2019) - The due date for linking of PAN with Aadhaar as specified under sub-section 2 of Section 139AA of the Income-tax Act,1961 has been extended from 31st December, 2019 to 31st March, 2020 vide Notification No. 107/2019 dated 30th December, 2019. MINISTRY OF FINANCE (Department of Revenue) (CENTRAL BOAR...

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Aadhaar allowed to be used instead of PAN in Income-tax Forms

Notification No. 95/2019-Income Tax [G.S.R .825(E)] - (06/11/2019) - CBDT has notified vide Notification No. 95/2019 that in various income-tax forms and Rules the word ‘Permanent Account No.’ or ‘PAN’ is to be substituted by the words ‘Permanent Account Number or Aadhaar Number’. Changes has made it possible for A person, not havi...

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Extension of due date for linking of PAN with Aadhaar from 30.09.2019 to 31.12.2019

Notification No. 75/2019-Income Tax [S.O. 3539(E).] - (28/09/2019) - Extension of due date for linking of PAN with Aadhaar from 30.09.2019 to 31.12.2019 by CBDT vide Notification No. 75/2019 dated 28th of September, 2019...

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Interchangeability of PAN with Aadhaar – CBDT amends Rules 114

Notification No. 59/2019-Income Tax [G.S.R. 614(E)] - (30/08/2019) - Any person, who has not been allotted a permanent account number but possesses the Aadhaar number and has furnished or intimated or quoted his Aadhaar number in lieu of the permanent account number in accordance with sub-section (5E) of section 139A, shall be deemed to have applied for allotment of ...

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Non-Filers/Stop filers of Income Tax Returns to get Notices soon

ITBA — ITR Processing Instruction No. 8 - (29/08/2019) - Criteria for generation of non filers: Any person holding valid PAN has not filed the return for the entered AY as well as for preceding 3 A.Y.s. Criteria for generation of stop filers: Any person holding valid PAN has not filed the return for the entered AY but filed the return for any of the prece...

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Recent Posts in "Permanent Account Number"

Appellant PAN can’t be declared inoperative for Non-Linking with AADHAAR till SC verdict

Bandish Saurabh Soparkar Vs Union of India (Gujarat High Court)

Bandish Saurabh Soparkar Vs Union of India (Gujarat High Court) It is ordered that PAN of the applicant shall not be declared inoperative and the applicant would not be in default in any proceedings only for the reason that the permanent account number is not linked with Aadhaar or Aadhaar number is not quoted and […]...

Read More

Everything You Want to Know About Pan Card for NRI’S

According to the new, rule of SEBI ,any NRI not having PAN card cannot do the share trading by depository or broker....

Read More
Posted Under: Income Tax |

Guide to Aadhar-PAN Linking !!

After multiple extensions of due date for linking PAN and Aadhar, finally the due date coming up is 31st of December 2019 (extended further up-to 31st March 2020 vide Income Tax Notification dated 30.12.2019) The government in its last budget has made a law by inserting section 139AA in Income-tax Act, 1961 making it mandatory […]...

Read More
Posted Under: Income Tax |

Due date for linking of PAN with Aadhaar extended to 31st March 2020

Notification No. 107/2019-Income Tax [S.O.4708(E)] (30/12/2019)

The due date for linking of PAN with Aadhaar as specified under sub-section 2 of Section 139AA of the Income-tax Act,1961 has been extended from 31st December, 2019 to 31st March, 2020 vide Notification No. 107/2019 dated 30th December, 2019. MINISTRY OF FINANCE (Department of Revenue) (CENTRAL BOARD OF DIRECT TAXES) Notification No. 107/...

Read More

Landlord’s PAN not needed to claim HRA if annual rent is below Rs 1 lakh

Landlord’s PAN not needed to claim HRA if annual rent is below Rs 1 lakh and f rent paid exceeds Rs.1 lakh per annum, it is mandatory for the employee to report PAN of the landlord to the employer. An employee who receives HRA can claim an exemption in respect of rental payments under section 10(13A) […]...

Read More
Posted Under: Income Tax |

PAN cards now printed with Enhanced Quick Response Code

ATTENTION PAN CARD APPLICANTS PAN cards are now being printed with Enhanced Quick Response (QR) Code. Features of new PAN Card design: 1. Enhanced QR Code will contain Photograph & Signature of PAN applicant apart from existing information i.e., PAN, Name, Father’s Name/Mother’s Name, Date of Birth/Incorporation/ Formation. The af...

Read More
Posted Under: Income Tax |

5 Recent Important Income Tax Changes we must know

Union Finance Minister Nirmala Sitharaman in her maiden budget speech announced some income tax-related changes which will come into effect from September 1, 2019. Cash withdrawals exceeding INR 1 crore in aggregate in a year from finance institutions will attract TDS while in case of property transactions, the definition of immovable pro...

Read More
Posted Under: Income Tax |

Aadhaar allowed to be used instead of PAN in Income-tax Forms

Notification No. 95/2019-Income Tax [G.S.R .825(E)] (06/11/2019)

CBDT has notified vide Notification No. 95/2019 that in various income-tax forms and Rules the word ‘Permanent Account No.’ or ‘PAN’ is to be substituted by the words ‘Permanent Account Number or Aadhaar Number’. Changes has made it possible for A person, not having PAN to furnish his Aadhaar number in ...

Read More

AO justified in sending notice at address mentioned in PAN database

PCIT Vs. M/s I­-Ven Interactive Limited (Supreme Court)

Mere mentioning of the new address in the return of income without specifically intimating the Assessing Officer with respect to change of address and without getting the PAN database changed, is not enough and sufficient....

Read More

Updation In Pan Card Is A Must

The article attempts to revisit the SC latest verdict on address updation in PAN Card which is must without which the assessee cannot claim that he was not served with notice issued to him under the Income Tax Act. In PCIT Vs IVen Interactive Limited, the Supreme Court’s judgement dt. 18.10.2019 says that mere mentioning […]...

Read More
Posted Under: Income Tax |

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